Commerce Minister Piyush Goyal said India’s FTAs with developed countries are helping boost trade, attract investment, create jobs, support innovation and improve quality standards.
Under the India-EFTA trade pact, Switzerland, Norway, Iceland and Liechtenstein have committed to invest USD 100 billion in India over 15 years and help create 1 million direct jobs.
Goyal said India has signed 9 FTAs covering 38 countries in the last 3 to 3.5 years, giving Indian businesses access to new markets and global supply chains.
He said India’s young workforce, lower production costs and large consumer market complement the capital, technology and expertise of developed economies.
The minister highlighted major reforms to simplify business regulations, taxation and compliance, making India a more attractive destination for investors.
India now has a unified national power grid with over 500 GW capacity, while more than 50% of installed electricity capacity comes from renewable energy sources.
Goyal said India’s low data costs, affordable infrastructure, skilled workforce and Rs 1 lakh crore R&D innovation fund are helping attract global companies, manufacturing and data centre investments.
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